Robinsons Retail’s income doubles to P1.6B

ROBINSONS Retail Holdings, Inc. (RRHI) reported an attributable net income of P1.56 billion in the second quarter, more than double the P723.89 million earned in the same period last year.

In its financial report filed to the exchange on Thursday, the company said revenues for the April-June period reached P43.23 billion, up nearly 20% from P36.04 billion in the same period last year.

In the first semester, RRHI’s attributable net income increased by 64.1% to P2.74 billion from P1.67 billion in the same period last year.

Year-to-date revenues increased by 15.4% to P82.94 billion from P71.86 billion in the same period last year.

RRHI reported net sales of P82.37 billion in the first half, up 15.3% compared with the P71.45 billion recorded in the period last year.

The supermarket division’s sales were recorded at P46.71 billion, accounting for 57% of the company’s net sales for the period, followed by the drug store division, with sales at P13.99 billion.

On Thursday, shares in the company inched up by 3.52% or P2.10 to finish at P61.70 apiece on the stock exchange.